General Dynamics (GD) Upgraded by ValuEngine to “Buy”
ValuEngine upgraded shares of General Dynamics (NYSE:GD) from a hold rating to a buy rating in a report published on Thursday morning.
Several other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. cut General Dynamics from a neutral rating to an underweight rating and reduced their price objective for the company from $225.00 to $215.00 in a research report on Tuesday, December 12th. Zacks Investment Research cut General Dynamics from a hold rating to a sell rating in a research report on Tuesday, December 26th. Royal Bank of Canada set a $239.00 price objective on General Dynamics and gave the company a buy rating in a research report on Wednesday, November 15th. Argus raised General Dynamics to a buy rating and increased their price objective for the company from $230.00 to $250.00 in a research report on Tuesday, January 30th. Finally, Bank of America increased their price objective on General Dynamics from $245.00 to $260.00 and gave the company a buy rating in a research report on Thursday, January 25th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $235.88.
General Dynamics (NYSE GD) traded up $4.19 on Thursday, hitting $223.34. The stock had a trading volume of 2,058,715 shares, compared to its average volume of 1,771,267. General Dynamics has a 12 month low of $183.72 and a 12 month high of $229.54. The company has a quick ratio of 0.99, a current ratio of 1.40 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $66,317.23, a PE ratio of 23.39, a price-to-earnings-growth ratio of 2.37 and a beta of 0.83.
The company also recently announced a quarterly dividend, which was paid on Friday, February 9th. Investors of record on Friday, January 19th were given a $0.84 dividend. The ex-dividend date of this dividend was Thursday, January 18th. This represents a $3.36 annualized dividend and a yield of 1.50%. General Dynamics’s dividend payout ratio (DPR) is currently 35.18%.
In other General Dynamics news, Director John M. Keane sold 1,800 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $216.43, for a total transaction of $389,574.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John Patrick Casey sold 9,304 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $215.29, for a total value of $2,003,058.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,314 shares of company stock valued at $3,542,635. 6.70% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in General Dynamics by 0.4% during the fourth quarter. BlackRock Inc. now owns 16,670,214 shares of the aerospace company’s stock worth $3,391,556,000 after acquiring an additional 60,034 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of General Dynamics by 6.1% in the third quarter. Janus Henderson Group PLC now owns 5,302,868 shares of the aerospace company’s stock valued at $1,090,164,000 after buying an additional 304,175 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of General Dynamics by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 3,115,765 shares of the aerospace company’s stock valued at $632,676,000 after buying an additional 57,738 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of General Dynamics by 2,097.3% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,711,597 shares of the aerospace company’s stock valued at $353,351,000 after buying an additional 1,633,700 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in shares of General Dynamics by 15.0% in the fourth quarter. Bank of Montreal Can now owns 1,557,931 shares of the aerospace company’s stock valued at $316,962,000 after buying an additional 202,628 shares in the last quarter. Hedge funds and other institutional investors own 86.88% of the company’s stock.
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About General Dynamics
General Dynamics Corporation is a global aerospace and defense company. The Company offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; information technology (IT) services and C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance) solutions, and shipbuilding and ship repair.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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